Answered: When you write an exchange rate in…

When you write an exchange rate in terms of how many units of a foreign currency it takes to buy one US dollar, we call that: a)a direct quote b) the real price c) an indirect quote d) a depreciation

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: International Finance

Section: Chapter Questions

Problem 3QP

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Question

When you write an exchange rate in terms of how many units of a foreign currency it takes to buy one US dollar, we call that:

a)a direct quote

b) the real price

c) an indirect quote

d) a depreciation

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